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Trump Rejects Iran Peace Bid, Oil Prices Surge
2026-05-11
The already fragile diplomatic dance between Washington and Tehran hit another wall on Monday, after President Donald Trump flatly rejected Iran's reply to a U.S. peace proposal. The fallout was immediate — oil markets jolted sharply higher, and concerns deepened that a conflict now entering its tenth week shows little sign of winding down anytime soon. At the heart of it all sits the Strait of Hormuz, a narrow but critical waterway that remains largely shut to normal traffic.























